Lovell Stewart Halebian Jacobson Llp
Professional Services; Law |
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61 BROADWAY, New York, NY 10006
Recent News About Lovell Stewart Halebian Jacobson Llp
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'Fraud on the market' theory allows complaint to continue
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While noting the plaintiffs had presented statements which could indicate price-fixing activity, a federal appeals panel has refused to melt down a lower court’s decision to slice up a potentially massive class action lawsuit accusing U.S. steelmakers of conspiring to jack up prices for raw steel.
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A group of steel makers, led by Chicago-based ArcelorMittal USA, have beaten down a class-action antitrust lawsuit filed by more than a dozen consumers, who alleged the companies schemed to raise prices for goods made with steel, by pointing out the consumers were too far down the distribution line from the steel manufacturers to claim losses.
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A federal judge has ruled a group of commodity traders who felt they had been harmed by the manipulative activities of so-called “high frequency traders” had misplaced their grievance when they filed a complaint against the Chicago Mercantile Exchange. The putative class action, represented by plaintiffs William Charles Braman, Mark Mendelson and John Simms, alleged the CME granted unfair advantages to certain classes of traders.
